In H1 the company observed an increase in operating revenues of 33% YoY, increase in EBITDA of 24% and a decrease in net profit of 2%.

As Messer Tehnogas published their H1 2019 report, we are bringing you key takes from it. According to the report, the company recorded sales of RSD 6.04bn, which is an increase of 31% YoY. Of the total sales, 87.5% was recorded on the domestic market. Meanwhile operating revenues amounted to RSD 6.21bn, representing an increase of 33%. Note that the company is targeting operating revenues for 2019 to be RSD 8.2bn.

When observing operating expenses, they increased by 37.8% YoY, amounting to RSD 4.77bn.

Moving further down the P&L, the company observed an increase in EBITDA of 24% YoY, amounting to RSD 2.1bn, as a result of a strong revenue growth. EBIT observed an increase of 18.4%, amounting to RSD 1.44bn.

In H1, Messer Tehnogas recorded a net financial gain of RSD 13.4m, which is an increase by RSD 3.5m.

Although the company observed a solid performance down the P&L, they observed a decrease in net profit of 2% YoY, amounting to RSD 1.14bn, which came as a result of higher taxes (RSD 167.3m compared to RSD 7.8m in H1 2018).